Covivio Hotels ended 2019 on a strong note. The hotel real estate operator, controlled by the property company Covivio (43.2% of the capital) buys nine hotels for more than 600 million euros of high-end hotels across Europe.
By Luxus Plus
The group has announced that it has bought almost 620 million euros in luxury hotels in Italy, Central Europe and Ireland, continuing to develop in a sector where it has accelerated its investments in recent years.
Covivio Hotels thus directly owns 407 establishments, representing an asset value of 6.9 billion euros, and has 490 under management.
The operator now indirectly has a considerable portfolio of brands and covers the entire hotel spectrum, from economy to luxury.
It is in particular in business relationship with Marriott International, IHG, Accor, Radisson Hotel Group, but also with B & B Hotels or Meininger.
These hotels, all upscale, are located primarily in major Italian cities – Florence, Venice, Rome. Others are in Central Europe, in Prague and Budapest, another in Dublin and one in Nice, in France.
Covivio is not the only French giant to develop at high speed in luxury hotels, since LVMH had already distinguished itself at the end of 2018 by getting its hands on Belmond.
“Covivio is continuing the European development of its hotel activity by establishing itself in the heart of cities which are among the 20 most important tourist destinations in Europe“, summarized Dominique Ozanne, deputy managing director of Covivio, quoted in the press release קישור חשוב.
In 2018, the group had bought establishments for nearly a billion euros across the Channel.
